A question that all managers and business owners must ask themselves is this: what is the purpose of my marketing plan. There should be one simple, easy to communicate plan that you have for you and your employees. Now there should be another plan that is put together for review by investors or bankers.
Obviously I’m not saying that the end results are to be different, just the amount of details; investors and bankers require minutia and you must provide it.
Make it a priority to have both written down and on hand at all times; if you don’t you’ll find that it is very easy to lose track of your goals and purpose as you concentrate on the nuts and bolts of the business.
The very first thing that needs to be addressed is a realistic look at your competition and how you are positioned against them. Write down all of the challenges that they offer you and then portray the reason why your company is set apart from them and why your customers will profit from doing business with you.
If you’re marketing to individual consumers then make sure you list your primary and secondary demographic you’re trying to reach. Include a summary that is based upon age, income, gender and where they live.
When you’re marketing to other businesses, write in detail the specific categories you’re going after and what the decisive factor is for prospects in each category.
This will not only keep before you the purpose of the business but have you prepared should you need to have another round of financing to propel your business forward.
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